Triboo

Investor Presentation • Jan 22, 2020

SHAPING THE FUTURE 2020/22 THROUGH DIGITAL

Business plan presentation Milan, Four Seasons Hotel - January 22nd 2020

GOOD MORNING

AND WELCOME

GOOD MORNING

AND WELCOME

RICCARDO MARIA

OVERVIEW

RICCARDO MARIA MONTI

CEO Triboo

COMPANY OVERVIEW

RICCARDO MARIA

RICCARDO MARIA

+10 YEARS OF WINNING BUSINESS MODEL

RICCARDO MARIA

UNIQUE POSITIONING COMBINING DIGITAL & MEDIA COMPETENCES WITH STRONG TECHNOLOGICAL ASSETS

SOME NUMBERS

PROFESSIONALS

AVERAGE AGE

SPOKEN LANGUAGES

NATIONALITIES

GRADUATES

PRODUCTS SHIPPED PER YEAR

CLIENTS IN MORE THAN 80 COUNTRIES

OF MONTHLY UNIQUE USERS: GREEN / WOMAN / FOOD / AUTOMOTIVE / FINANCE

TRIBOO SHARES

• Share Capital € 28,740,210.00
• Total no. of shares 28,740,210
• Treasury shares (as at January 20th 2020):
  • 50.358 (0,18% of share capital)

• Mkt cap

€ 45,3 mln (@1,575 as at January 20th 2020)

• FY2018 DPS € 0,0696 (FY2017 DPS of € 0,0348)
• Ex-dividend date 27 May 2019
• Payment date 29 May 2019
• Dividend yield 4,4% (YE2018) 3,17% (YE2019) Expected* 3,81% (YE2020) Expected*

HISTORY AND ACHIEVEMENTS 2019

REVENUES

2018 2019 F

Consolidated fgures, € millions

REVENUES

Consolidated revenues, € millions

2019 ACHIEVEMENTS

• Set up of a new ventures in Middle East and United Kingdom
• Continuous organic growth (achieved over 110 e-Stores)
• Set up of operations in direct marketing and performance marketing
• Launch of T-lab for managing new ventures
• Evolution of our business model and new strategy for Publishing Business line

Source: 2014-2018 approved consolidated fnancial statement ; * 2018 Revenues include Euro 2,5 mln of positive non-recurring effect. ; F: forecast unaudited fgures

GOOD MORNING

WHAT WE DO

WE DO

MARCO GIAPPONESE

MANAGING DIRECTOR Triboo

WE DESIGN, BUILD AND OPERATE THE FULL SPECTRUM OF DIGITAL OPERATIONS FOR OUR CLIENTS

WE RUN THREE DIGITAL BUSINESS

T-COMMERCE T-AGENCY T-MEDIAHOUSE

GOOD MORNING

MARKET SCENARIO

ECOMMERCE MARKET TRENDS: STRONG GROWTH AHEAD

RETAIL E-COMMERCE SALES WORLDWIDE 2017-23 \$ TRILLIONS - %OF TOTAL RETAIL SALES

	2018	2019	%Change YoY
China	1.520,10	1.934,78	27%
US	514,84	586,92	14%
UK	127,98	141,93	11%
Japan	110,96	115,40	4%
South Korea	87,60	103,48	18%
Germany	75,93	81,85	8%
France	62,97	69,43	10%
Canada	41,12	49,80	21%
India	34,91	46,05	32%
Russia	22,68	26,92	19%

RANKED BY RETAIL E-COMMERCE SALES, 2018 & 2019 \$ TRILLIONS - % YOY

Consolidated revenues, € millions

GLOBAL E-COMMERCE MARKET TOP 10 COUNTRIES E-COMMERCE

Source: Worldwide digital advertising expenditure from 2018 to 2023, Global digital advertising market 2023 | Statista

MARKET TRENDS: DIGITAL ADV GLOBAL

Entertainment & Media Outlook in Italy 2019-2023 | 2017 - 2020 PwC

FINANCIAL TARGETS

FINANCIAL 3 YEARS PLAN

FINANCIAL 3 YEARS PLAN / REVENUES

2019 FORECAST 2022

Consolidated fgures, € millions

FINANCIAL 3 YEARS PLAN / REVENUES € millions

• T-Commerce: strong marketplace contribution (+5 mln 2022 vs 2019) and like for like increase in line with market megatrend.
• T-agency: fully integration of Spain and UK (+ 4 mln 2022 vs 2019). Agency services for China, Russia and Far East (+11 mln 2022 vs 2019) .
• Slightly impact of T-Mediahouse revenues on total growth due to the strategic plan focused on marginality.
• T-Lab refects only the already signed agreement (on-line forniture business ''LOVETHESIGN ''LTS'') consolidated from December 2019. Strong upside with pipeline of opportunities non included in business plan.
• CAGR consistent with historical trend.

Source: F: forecast unaudited fgures

FINANCIAL 3 YEARS PLAN / EBITDA ADJ*

€ millions

• 2019 impacted by one off external effects.
• Increase of volumes in e-commerce and agency services.
• Fully integration of new business in T-Agency and T-lab.
• Change of strategy of T-Mediahouse: focus on marginality other than revenue growth.
• G&A remain almost fat in business plan with lower ratio on sales.

* Ebitda Net of non recurring costs/revenues

FINANCIAL 3 YEARS PLAN / CAPEX € millions

• Investments in 2020-2022 BP amounting to Euro 21 million to innovate and speed up the growth.

3 YEARS CUMULATED CASH FLOW

CASH FLOW FROM OPERATIONS NET INVESTMENTS

€ millions

STRATEGIC GUIDELINES AND ACTION PLAN

PARTNERSHIP AND INTEGRATION OF MAIN MARKETPLACE PLATFORMS WORLDWIDE IN DIFFERENT SECTORS (TECHNOLOGY, BEAUTY, LUXURY AND FASHION) TO ANSWER TO THE EVOLUTION OF OMNICHANNELS FOR RETAIL BUSINESS AND B2B.

DEVELOPMENT OF BIG DATA ANALYTICS TO BUILD THE TRADE STRATEGY MORE FOCUSED AND EFFICIENT TO PREDICT CONSUMER NEEDS AND GEOGRAPHIES

VERTICAL BUSINESS TO DEVELOP MORE EFFECTIVE DIGITAL STRATEGY AND SCALABLE BUSINESS.

STRATEGIC PILLARS

GROWTH DRIVERS

Organic growth M&A Ongoing internationalization

BUSINESS MODEL EVOLUTION

• New and more effective organization, goal and management accountability
• Change of Strategy for T-Media House
• Flat G&A leveraging the volumes

GROWTH DRIVERS

ORGANIC GROWTH

• Expected double digit growth rate for E-commerce & Agency
• •International market reach the worldwide fnal customers with an international positioning (more than 80 countries served)
• Flat G&A leveraging the volumes

M&A

• Clear scouting strategy of M&A targets based on:
• •New vertical services to complete our portfolio

ONGOING INTERNATIONALIZATION

• China
• Spain
• •UK
• EAU
• •… USA

ACTIONS IMPACT

• Deep Change of strategic vision and offering of T-Media House (digital advertising)
• Continuous investment on the International market with strong focus on China, US and emerging market (i.e.: Dubai)
• Tight cost control thanks to the new ERP and new governance model

• Focus on publishing content with high quality level, lower volumes and higher marginality identifying only few verticals (fnance, automotive, woman, food, green).
• International revenues will grow more than 100%.
• G&A decrease about 2% as ratio on sales from 2020 to 2022 as consequence of optimisation in operation (new ERP live from 2020) and volumes effects.

NOW IS THE TIME FOR A LASER FOCUS ON INCREASING MARGINS AND DELIVERING OUR FULL POTENTIAL

WE CONTINUE TO LEVERAGE ON OUR STRENGTHS: UNIQUE SELLING PROPOSITION AND COMPETITIVE POSITIONING IN A HIGH-GROWTH BUSINESS TO DELIVER PROFITABLE GROWTH.

THANKS.

Business plan presentation Milan, January 22nd 2020 / Four Seasons Hotel